Coronavirus: Industry in Goa in wait-and-watch mode

The industry in Goa is keeping its fingers crossed over the emerging threat of coronavirus which may affect the raw material supplies from abroad in the months to come, GCCI chief said on Friday.

Goa Chamber of Commerce and Industry (GCCI) President Manoj Caculo said raw material stocks to sustain for the next two-three months are available with the manufacturers.

"But if this situation continues for more than two-three months, then the companies will run in crisis," he told reporters on the sidelines of an event.

Caculo said the tourism industry in the state has been the immediate sufferer due to the coronavirus outbreak.

"Retail industry is also suffering as people don't move out. People avoid going to public places. Hotel and restaurant industry is also facing the brunt," he added.

As far as manufacturing sector is concerned, companies which are dependent on countries like China for their raw material needs will be affected, he added.

Caculo further said sales in the automobile sector have already been sluggish ahead of the BS-6 rollout.

"Four-wheeler industry is not having much problem but there is a problem with two- wheeler industry. There is sufficient stock (of BS-4 models) lying. It will need to be exhausted," he said.

The GCCI chief also said there is no need to press the panic button at this juncture.

"Industry is waiting. There is no panic button pressed. If situation is not controlled by end of month, then the panic button will be pressed," he added.